Categories

FAQ

The ILCoin Blockchain Project is an innovative business that owns unique technologies and specific
objectives. This FAQ section will help you gain a clearer understanding of the ILCoin Development Team’s
goals and give answers to fundamental questions that ILCoin users who have recently joined the ILCoin
community might have.

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All answers have been categorized in order to make browsing more fluid and help in performing a
targeted search. In certain cases, some questions may arise at multiple categories since questions
often include complex answers. With topics where it is not possible to adhere to an absolute category,
we have aimed to divide the questions to a specific topic based on the frequency of interest.

The marketing department of the ILCoin Development Team is continuously updating the content of the
FAQ page so that there will be no questions left unanswered about technological developments or the
newest business objectives and achievements.

Hundreds of articles have been published about the goals of the ILCoin Blockchain Project that can
help define the main objectives the project has set. The content of these articles is mostly the
direct intellectual output of the media. Therefore, in certain cases, the articles do not give a
complete and/or completely accurate picture of the project. This is why we believe it is important to
consult and ask for information from the ILCoin Development Team and its delegates through either the
FAQ section or the official communication channels of the project.

Categories

General

In this part, we have aimed to collect questions that frequently appear when it comes to ILCoin and
the
ILCoin Blockchain Project. General questions do not give you the entire picture of the functioning of
cryptocurrencies and blockchain technology, and they do not aim to help you understand the project’s
business endeavors either. Therefore, we do recommend that you review the subsequent subchapters as
well.

ILCoin is a cryptocurrency that is built on a unique blockchain system
and
thus possesses such outstanding pieces of technology as C2P and the RIFT Protocol. The first ILCoin
was mined in January 2015. When ILCoin was first launched, it was only a SHA-256 Proof-of-Work (PoW)
system, i.e., a BTC clone. There have been several developments over the years, which can be seen in
the roadmap. Today, ILCoin is surpassing the capabilities of BTC and possesses solutions such as the
Admiral Nodes system or the Mini-Block technology.

The ILCoin Blockchain Project is an enterprise that has set the goal of
creating a unique blockchain technology that no other project in the world currently possesses. The
ultimate objectives of the ILCoin Blockchain Project were most recently defined in 2019.

Many people have already joined the ILCoin Community from different
countries of the world. Currently, the majority of our users are from Asia as the popularity of
cryptocurrencies is prominently high in this region.

The easiest way is through the Telegram site of the
ILCoin Blockchain
Project or via the
contact information available on the webpage.

Apple represents a very strict regulatory process in which the presence
of
cryptocurrencies is significantly limited. The ILCoin Development Team is doing everything in its
power to make ILCoin-related applications available in the App Store as well.

The ILCoin Blockchain Project has its own communication channels. In the
case of every individual page, the creator is responsible. The ILCoin Development Team is not
responsible for any information that is not published on its own social media pages.

The creator of the source code, just like Satoshi Nakamoto, uses a
pseudonym. The creator is known by the ILCoin Community as Batmin.

The ILCoin Development Team does not have any effect on the internal
operation of exchanges.

Listing sites convey project value based on different sorts of
calculations. Listing sites do play an important role, but they fail to express project values
accurately because the base numbers used in the calculations (maximum supply, circulating supply,
daily volume, daily price) are not consistent with the economic and technological values of the
projects. The choice of which listing site you use is totally dependent on your opinion.

The ILCoin Development Team established it.

ILCoin is a cryptocurrency, and the ILCoin Blockchain Project was
established to take advantage of the benefits of the ILCoin blockchain’s technology.

ILCoin is a hybrid system whose objectives are data decentralization and
the protection of block generation. (See: Business Paper, White Paper) The practical problems
associated with decentralization are yet to be solved. However, the protection of the technology is
a
priority in the endeavors of the ILCoin Development Team.

The establishment of the ILCoin Blockchain Project is not connected to a
specific date but to events. The creation of the project was triggered by the events that took place
at the end of 2017 and 2018. ICO frauds and continuous hacker attacks shed light on the fact that it
is not enough to only think in terms of cryptocurrency. Unfortunately, market saturation and
information distortion strongly prevent valuable projects from growth. Therefore, we have decided to
create a technology that is truly unique; reinforcing our commitment to blockchain development and
creating a healthy distance from those “crypto-projects” that rely too heavily on promises and fail
to
showcase any sort of unique or valuable solutions.

Business-Related Questions

This chapter is important for those who have definite ideas in connection with the use of ILCoin or
the
utilization of the ILCoin technology. We have tried to gather questions that help you understand the
objective of the ILCoin Blockchain Project and the business opportunities residing in its technology.
The topics will obviously not address specific questions since they all require unique answers in
every
case.

The ILCoin Development Team is the sole owner and creator of the ILCoin
technology.

The ILCoin technology consists of mining-related tools, wallets, and all
the development that has been created by the ILCoin Development Team.

Innovations that make up the values of the ILCoin technology, in every
case, have been and always will be derived from the ILCoin Development Team’s own resources.

Yes, you can. Everyone is provided with the opportunity to develop for
ILCoin based on the source code available on GitHub.

ILCoin is currently available on several international exchanges. The
possibility of purchasing or trading ILCoin exists for everyone. We highly recommend that you visit
the “Exchanges” section of our webpage.

With the help of the POS terminal, anyone can create a payment spot
anywhere. The possibilities are unlimited. The application is available from the Google Play Store.

The ILCoin Development Team is in a business partnership with Palo Alto
Networks’ partner EuroDigital. This partnership covers server security and technology auditing.

Everyone is provided with the opportunity to freely develop for ILCoin
based on the source code available on GitHub.

ILCoin’s mining is centralized to protect the security and technology of
its blockchain. It is not in the interest of the ILCoin Blockchain Project to openly share
ILCoin-related technological innovations. The technology is exclusively owned by the ILCoin
Development Team.

The ILCoin Development Team is happy to be involved in all developments
whose practical value is closely and exclusively connected to the success of ILCoin.

The ILCoin Blockchain Project is a member of the North American
Blockchain
Association and the Korean Industry Blockchain Association.

Of course, every project is open to investors. In case you are interested
in utilizing ILCoin technology for your own business, we recommend that you contact us via the
contact
details that you can find on our webpage. However, certain business aspects are available in the
Business Paper and the Model of DCB. (See: download document tab)

The project’s operation and its developments are financed from ILCoin
sales, strategic collaborations and its equity.

There are several international companies behind the project which
officially represent the ILCoin Development Team.

The ILCoin Development Team is a group of developers that have been
building the ILCoin technology and its market for many years. However, more people have joined the
ILCoin Blockchain Project over the past few years and they helped or are helping the utilization of
ILCoin technology with a special emphasis on decentralized applications.

Taking the maximum supply into account, the unit price of these two
cryptocurrencies is not comparable.

ILCoin underwent a significant transformation in 2018. Over the past two
years, ILCoin has made a tremendous amount of progress. In November 2019, based on CoinMarketCap,
ILCoin cracked into the top 70 cryptocurrencies.

ILCoin is currently listed on more than 20 international exchanges. The
number of exchanges is continuously changing. When it comes to exchanges, you need to take their
liberty into account. In some cases, that liberty can be detrimental for cryptocurrencies. The
challenge is trying to get exchanges to activate their own communities.

The ILCoin Development Team is happy to list ILCoin on Binance in the
case
that Binance provides ILCoin with the right terms and a reasonable listing fee.

One of the most important developments of the ILCoin Blockchain Project
is
the upcoming DCB and its related smart contract system. The DCB will be capable of widespread
adaptation. Hence, the above-mentioned companies will also be able to use it. (See: Business Paper)

That depends on the type of negotiation you plan on proposing. For
business-related proposals, please contact the ILCoin Development Team through the email
businessplan@ilcoincrypto.com. You can do negotiations with Norbert Goffa for marketing-related
proposals in Telegram (@Norbert01). If you are a representative
from an exchange, you should speak with Thor in Telegram (@usernameThor) or by way of email
(support@ilcoinblockchainproject.com).

Yes, you can.

Technology and Operation-Related Questions

This part covers the most complex questions since the technological innovations and unique
developmental
solutions – the fundamental strengths of the ILCoin Blockchain Project – represent the greatest value
to
the project.

The objectives of the ILCoin Blockchain Project, which focus on the utilization and the widespread
adaptation of the ILCoin technology, directly assist the free-market strengthening of the ILCoin
cryptocurrency. Since the main purpose of the FAQ is to give fundamental information about the
operation
of the project for those interested, the questions do not cover the topics of technical structures
and
coding solutions.

General technical
questions

ILCoin is different from Bitcoin in several aspects. One of the most
significant differences between the two can be found in transaction speed, security and the hybrid
defensive approach. Bitcoin is the “digital gold” of the crypto-market, and it is evident that it
does not seek to become a complex technology.

In certain aspects, the concept of the ILCoin Blockchain Project is
similar to the basic idea of Ethereum. The project also set the goal to use smart contracts and
tokenization. However, the practical ideas of the ILCoin developers are very different from the
current concept of Ethereum. In other words, ILCoin is using different standards for the usage of
the systems, so its smart contract and tokenization also represent completely different practical
utilization.

All wallets related to ILCoin are available and can be downloaded from
the website.

When ILCoin was established in 2014, the goal was to create an
alternative to Bitcoin. In the beginning, ILCoin was a Bitcoin clone. However, we believe SHA-256
PoW algorithm to be one of the best, tried and tested methods of consensus.

The ILCoin Development Team has decided to hold onto the PoW system
based
on a firm and conscious decision. With the help of miners, a system such as the DCB can be handled
in a much more secure and stable manner in special consideration of RIFT’s outstanding
capabilities
in block generation.

The ILCoin Development Team is a group of developers that have been
building the ILCoin technology and its market for many years. However, more people have joined the
ILCoin Blockchain Project over the past few years, and they helped or are helping the utilization
of
ILCoin technology with special emphasis on decentralized applications.

ILCoin’s mining is currently working in a closed system in order to
protect the network. The number of malicious hacker attacks has increased quite significantly in
recent years. A project with valuable technology, such as ILCoin, must pay particular attention to
eliminating all types of malicious abuses. Currently, there isn’t any technological solution that
could simultaneously bring about decentralization and proper security. With cryptocurrencies other
than ILCoin, the size of the network is the only protection against abuses; though, it is still
not
entirely true since the potential for internal abuse is at least as a real of a threat as external
attacks.

The essence of the hybrid system is that block generation is
centralized
while the data is decentralized. In most cases, projects promising decentralized data storage are
centralized. The DCB is the only project on the market that ensures full decentralization for
large
amounts of data.

The QT wallet synchronizes the entire ILCoin network. The security
level
of QTs is way higher than traditional wallets.

This may have several reasons. If you experience this issue, you are
advised to contact the ILCoin Wallet Verification telegram group or the official ILCoin support
email (support@ilcoinblockchainproject.com).

The ILCoin Development Team operates its own telegram site for
wallet-related issues. Alternatively, you could contact the ILCoin Development Team by way of
email
(support@ilcoinblockchainproject.com).

Command Chain Protocol

The functioning of the technology is available on the website through
the
Blue Paper of C2P.

Command Chain Protocol (C2P) habilitates an immunity to 51% attacks for
the ILCoin Blockchain. Not even a quantum computer using superposition to create an infinite
amount
of hash could forge a block without proper permissions from our C2P nodes. (See: C2P Blue Paper
and
Certification of C2P)

Thanks to the operation of C2P, the potential of a 51% attack has
become
impossible on the ILCoin Blockchain. (See: C2P Blue Print; Palo Alto Certification of C2P and C2P
Test Process)

C2P is based on a three-level node system, which is mainly about the
protection of block generation. The opportunity for joining Sync Nodes is given to everyone and
ensures decentralized access. On the ILCoin Network, only blocks that are validated by Admiral
Nodes
are authentic. (See: C2P Blue Paper)

The point at which we can start thinking about opening up mining is when we can be completely certain that, in terms of technology and network, ILCoin’s technology cannot become misused/abused. Needless to say, its practical solution comes with significant challenges. The technology titled Command Chain Consensus protocol (C3P) appears on our website. C3P intends to represent a solution that allows us to eliminate possible abuses. However, full protection against abuses has not yet been established, and this is why C3P is not included in the Road Map. With that said, the theoretical potential of the technology is given, and the development team does not wish to give up on its practical implementation.

RIFT Protocol

The functioning of the technology is available on the website through
the
Blue Paper of the RIFT Protocol.

The number of mini blocks is not limited, therefore the RIFT itself
does
not have a limit either. (See: RIFT Blue Print)

The 5 GB block size is sufficiently large to demonstrate the
scalability
of the RIFT Protocol as well as large enough to handle the throughput of any cryptocurrency
currently operating on the market. Yet, it isn’t too large as to cause any issues with today’s
technology. At the time the block was mined, it officially broke the record for the largest block
size forged on the live network.

Transactions speed depends on the weight of the transaction. The
minimum
amount of data necessary to govern a transaction is 232 bytes. To calculate the raw maximum number
of transactions possible within a block, you need only divide the minimum transaction size against
the maximum block capacity. However, this calculation will only produce the maximum number of
transactions possible per block and doesn’t represent real-world usage.

The amount of ILCoin being pushed through each individual transaction as well as the amount of
sending and receiving addresses will determine how many bytes that transaction needs to occupy
within the block. However, assuming each transaction is occupying the minimum number of bytes
possible, each block may contain up to a maximum of 21551724 transactions. With an average block
mining time of 3 – 5 minutes, that equates to between 71839 and 119731 transactions per second
using
a 5 GB block.

Thanks to the mini-block technology and its asynchronization, the RIFT
Protocol is capable of transferring large amounts of data through the network. (See: RIFT Blue
Print) Currently, no other project is able to handle this amount of data. Therefore, it is
impossible to compare RIFT with any other technologies.

The RIFT Protocol is capable of managing large amounts of data on the
blockchain. This can happen because of the mini-block technology and asynchronization. Thanks to
these attributes, RIFT is able to solve the FIFO (first in first out) and the Bottleneck problems.

The goal of block 310280 is to showcase the 5 GB block. The ILCoin
Development Team used a particularly large tx weight for the demonstration. The purpose of block
310280 is not to demonstrate a high transaction number, but to prove the conditions needed for
on-chain data storage. (See: Explanation of the 5 GB of RIFT Protocol)

Yes, it is possible.

The innovative approach behind the technology is universal, which means
that it may be used in any blockchain. The adaptation would require further developmental work.

Decentralized Cloud
Blockchain

The DCB is based on the RIFT Protocol; meaning it is capable of
simultaneously handling large amounts of data within the blockchain. In both terms of speed and
synchronization, it means that the Protocol does not require any off-chain based support, and yet
it
is capable of pushing extremely large amounts of data through the network in a short period of
time.

The functioning of the technology is available on the website through
the
Blue Paper of the DCB. (See: DCB Blue Print)

The ILCoin Blockchain Project supports the running of Full Nodes. Those
who run Full Nodes will receive ILCoin rewards. However, this option will only be available after
the launch of the DCB through the Partner Nodes System. (See: Business Paper & DCB model)

It depends on what the data storage would be used for. An on-chain
system
offers a much more secure and higher level of transparency and protection for the data. However,
it
is significantly more costly owing to the running of Full Nodes. On the other hand, the
centralized
solutions of the off-chain data storage are much more cost-effective than maintaining an on-chain
network. With that said, off-chain based systems are much more vulnerable and can easily give the
opportunity for data misuse/abuse. Therefore, it makes more sense to store very important
information on-chain and use off-chain storage for everything else.

Before the launch of the DCB, all partners who take part in the
project’s
marketing activities can benefit from its economic benefits. Partners who search for and get other
users to join the pre-DCB user program will be remunerated by the ILCoin Project.

The utilization of the DCB will be implemented in multiple steps. All
development-related milestones are available in the roadmap.

The DCB is the only blockchain capable of truly 100% on-chain based
data
storage. (See: DCB Blue Print)

Decentralized Applications
& Games

The site was created by the ILCoin Community with the aim to showcase
DApp developments. Any person may contribute to the DApps by developing their own and presenting
it
to the ILCoin Development Team. All apps on the ILCoin tools site are open source so their code
may
be reviewed.

Age of ILCoin was produced by the ILCoin Development Team with the
objective to unlock the doors between ILCoin and the game industry. Age of ILCoin is an
introduction
to the developments of ILCoin with special emphasis on the creation of C2P.

Yes, you can. Everyone is provided with the opportunity to develop for
ILCoin based on the source code available on GitHub.

Everyone is provided with the opportunity to develop for ILCoin based
on
the source code available on GitHub.

The ILCoin Development Team is happy to be involved in all developments
whose practical value is closely and exclusively connected to the success of ILCoin.

Game development represents enjoyment and serves scientific objectives
as
well. When utilizing a VR-based game, we can collect a tremendous amount of valuable information
that can help to contribute to the widespread utilization of blockchain technology.

The agreement with Clash is classified. However, the public plans of
Clash and ILCoin can be found in the Road Map.

The relationship between VR games and blockchain technology can open up
new dimensions in the world of technological innovations that have not been discovered yet. For
some
gamers, the “fun factor” of VR games is shown to be higher than traditional games. Games that
utilize ILCoin’s technology bring ILCoin not only value but also recognition.

Yes, it will.

Clash is one of the most highly recognized mobile game brands in the
world. Through Clash, ILCoin is part of a community of more than 500 million people.

Smart Contracts

The utilization of Solidity is important for us to make our technology
easily adaptable. (See: Model of DCB)

The Smart Contract System of ILCoin is under development, therefore the
team has not yet specified its entire list of functionalities. The biggest challenge is how to
simplify the utilization of the Smart Contract System so that we could contribute to widening the
scope of utilization opportunities. Smart contracts are based on the modular approach, which means
that different utilization areas will be realized on a differentiated basis. In other words, the
specification will be determined by the form on purpose of utilization.

The ILCoin Blockchain Project was built on different foundations with a
different approach than Ethereum. Tokenization is currently not available on the ILCoin Blockchain
but will be in the future. (See: Business Paper)

All steps related to the development can be found in the roadmap.

The ILCoin Development Team has made the decision to retain all
technical
information regarding the upcoming smart contracts until the first steps of the development become
realized.

The essence of the modular approach is that the different business
operations require different parameterizations. Thanks to the modular approach, users will be
provided with the opportunity to create specific smart contracts.

The point of creating smart contracts is to provide basic business
activities with smart contracts, by which we are helping the utilization opportunities of ILCoin.
However, this does not imply that ILCoin’s Smart Contract System is not capable of being
efficiently
utilized in other areas. (See: Business Paper, Model of DCB)